Bank of New York Mellon Corp Boosts Stake in Deere & Company (NYSE:DE)

Bank of New York Mellon Corp raised its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,063,898 shares of the industrial products company's stock after buying an additional 107,544 shares during the period. Bank of New York Mellon Corp owned about 0.76% of Deere & Company worth $874,473,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DE. Pineridge Advisors LLC boosted its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC purchased a new stake in Deere & Company in the fourth quarter worth $32,000. YANKCOM Partnership bought a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $35,000. Finally, Continuum Advisory LLC grew its holdings in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DE shares. StockNews.com lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. Evercore ISI lifted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Truist Financial reissued a "buy" rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Finally, Morgan Stanley raised their price target on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and an average target price of $454.65.

Deere & Company Trading Down 1.2 %

NYSE:DE opened at $484.24 on Tuesday. The stock has a market capitalization of $131.88 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.14 and a beta of 0.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a 50 day moving average of $452.99 and a 200 day moving average of $422.92.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a $1.62 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.34%. Deere & Company's dividend payout ratio (DPR) is 28.72%.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company's stock.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.